Chevron Corporation $CVX Stake Lessened by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. cut its stake in Chevron Corporation (NYSE:CVX) by 13.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,251 shares of the oil and gas company’s stock after selling 19,362 shares during the period. Valley Wealth Managers Inc.’s holdings in Chevron were worth $19,090,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CVX. Strategic Wealth Advisors LLC bought a new stake in shares of Chevron in the 4th quarter worth about $33,000. Decker Retirement Planning Inc. bought a new position in shares of Chevron during the third quarter worth about $34,000. Marquette Asset Management LLC acquired a new position in Chevron in the third quarter worth about $41,000. Daytona Street Capital LLC acquired a new position in Chevron in the fourth quarter worth about $44,000. Finally, Turning Point Benefit Group Inc. bought a new stake in Chevron in the third quarter valued at about $49,000. 72.42% of the stock is currently owned by institutional investors.

Key Stories Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron could benefit if Middle East tensions keep oil prices elevated and fuel shortages persist, since higher crude prices typically improve upstream earnings and cash flow. Assessing Chevron’s Valuation After a Recent Pullback and Tight Undervaluation Narrative
• Positive Sentiment: Reuters reported that Syria selected an offshore block for its first deep-water oil and gas project with Chevron and Qatar’s UCC Holding, highlighting a potential long-term exploration opportunity. Syria selects offshore block for first deep-water oil, gas project with Chevron
• Neutral Sentiment: Analyst commentary on Chevron’s Q1 earnings call focused on questions around flat sales and lower operating margin, but also on strong upstream production and integration of legacy Hess assets, suggesting the market is still weighing execution against profitability pressure. 5 Must-Read Analyst Questions From Chevron’s Q1 Earnings Call
• Neutral Sentiment: Chevron’s valuation is being reassessed after a recent pullback, with some investors still arguing the shares look undervalued relative to fundamentals. Assessing Chevron’s Valuation After a Recent Pullback and Tight Undervaluation Narrative
• Negative Sentiment: Chevron’s first-quarter results were met with a negative market reaction because investors were concerned about flat sales and a notable drop in operating margin, even though revenue roughly matched expectations. 5 Must-Read Analyst Questions From Chevron’s Q1 Earnings Call
• Negative Sentiment: Broader commentary on geopolitics noted that peace in oil-producing regions could lower crude prices, which would likely reduce Chevron’s earnings leverage from higher energy prices. Peace Will Bring Lower Oil: Warren Buffett’s Top Energy Picks for Berkshire Hathaway Will Still Shine

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. BMO Capital Markets restated an “outperform” rating and set a $190.00 price objective on shares of Chevron in a research note on Monday, February 2nd. UBS Group lifted their target price on Chevron from $218.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company upped their price target on Chevron from $204.00 to $222.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Zacks Research upgraded Chevron from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 3rd. Finally, Argus set a $203.00 price objective on shares of Chevron in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.13.

Chevron Stock Performance

Shares of NYSE CVX opened at $184.64 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $193.17 and its two-hundred day moving average price is $172.49. Chevron Corporation has a 52-week low of $133.77 and a 52-week high of $214.71. The stock has a market capitalization of $367.73 billion, a P/E ratio of 32.00, a P/E/G ratio of 0.63 and a beta of 0.51.

Chevron (NYSE:CVX) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. The company had revenue of $47.56 billion during the quarter, compared to analyst estimates of $51.86 billion. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.18 earnings per share. As a group, sell-side analysts forecast that Chevron Corporation will post 15.02 earnings per share for the current year.

Chevron Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th will be given a dividend of $1.78 per share. The ex-dividend date is Tuesday, May 19th. This represents a $7.12 dividend on an annualized basis and a yield of 3.9%. Chevron’s payout ratio is currently 123.40%.

Insider Activity

In other news, insider Andrew Benjamin Walz sold 11,600 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $188.58, for a total transaction of $2,187,528.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Mark A. Nelson sold 139,600 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $187.92, for a total transaction of $26,233,632.00. Following the completion of the sale, the insider directly owned 11,337 shares in the company, valued at approximately $2,130,449.04. This trade represents a 92.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 816,439 shares of company stock worth $154,339,900 over the last 90 days. Insiders own 0.56% of the company’s stock.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.